Upwork Inc. (NASDAQ:UPWK) Shares Sold by ATOMVEST Ltd

ATOMVEST Ltd decreased its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 83.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 311,016 shares of the company’s stock after selling 1,520,500 shares during the period. Upwork accounts for approximately 7.1% of ATOMVEST Ltd’s portfolio, making the stock its 4th biggest position. ATOMVEST Ltd’s holdings in Upwork were worth $5,085,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Upwork by 133.5% in the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock valued at $1,222,000 after buying an additional 66,842 shares during the period. BNP Paribas Financial Markets increased its stake in Upwork by 40.9% in the third quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after purchasing an additional 73,104 shares during the last quarter. Point72 Asset Management L.P. increased its position in Upwork by 2,216.8% during the third quarter. Point72 Asset Management L.P. now owns 503,682 shares of the company’s stock worth $5,263,000 after purchasing an additional 481,942 shares during the last quarter. Verition Fund Management LLC acquired a new position in Upwork in the third quarter valued at $8,369,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Upwork by 72.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 205,200 shares of the company’s stock valued at $2,144,000 after acquiring an additional 86,200 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UPWK shares. Scotiabank started coverage on shares of Upwork in a report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 price target on the stock. Roth Mkm lowered their price objective on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC lifted their price target on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Finally, Royal Bank of Canada raised their price target on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.58.

Upwork Trading Up 1.7 %

Shares of UPWK stock opened at $13.80 on Tuesday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.02 and a beta of 1.61. Upwork Inc. has a 1-year low of $8.43 and a 1-year high of $18.14. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $15.35 and a 200-day moving average of $14.36.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. On average, equities research analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Upwork

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the sale, the director now directly owns 16,299 shares in the company, valued at $286,536.42. This represents a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dave Bottoms sold 5,411 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51. This represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,365 shares of company stock valued at $3,050,760 over the last three months. 7.60% of the stock is currently owned by insiders.

Upwork Profile

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company’s work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.